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Property profile & analytics
OFF-MARKET
Estimated value
$6,340,000
Retail space
201 Waukegan Rd, Lake Bluff, IL 60044-1666
Entity Owned
Free & Clear
Property ID
US28-1250857
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1992
Construction
BRICK
Total area
65,956 SF
Lot
7.7 ac (335,412 SF)
APN
12-19-209-019
UPID
US28-1250857
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.71M
Blend (final)
Blend
$6.34M
Owner & transaction history
Tcb Carriage Way LLC
Tcb Carriage Way LLC
since 2026
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake Bluff submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Bluff submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$8,390,000
Current use
OFFICE BUILDING
$7,985,000
Change: -5% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$7,380,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$6.34M
Range $5.71M – $6.97M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$96 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$190,265
Tax year 2023
Assessed value
$2,795,773
Assessed 2023
Previous assessed
$2,689,598
+3.9% YoY
Effective rate
6.81%
On assessed value
Assessed land
$1,038,274
Assessed improvement
$1,757,499
Land market value
$3,115,133
Improvement market value
$5,273,024
Total market value
$8,388,157
Applied tax rate
10,011.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1992
Construction
BRICK
Heating
NONE
Total area
65,956 SF
Lot
7.7 ac (335,412 SF)
APN
12-19-209-019
UPID
US28-1250857
Jurisdiction
LAKE
Metro division
LAKE COUNTY-KENOSHA COUNTY, IL-WI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$8.4M
OFFICE BUILDING
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.4M
RETAIL STORES Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Construction
BRICK
Heating
NONE
Lot
7.7 ac
Current owner
From public records · entity-resolved
Tcb Carriage Way LLC
Entity
Free & Clear · 0 yrs held
Mailing address
3201 OLD GLENVIEW RD STE #300, WILMETTE, IL 60091-2966
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 20, 2026
$12,875,000
Tcb Carriage Way LLC
Carriage Way LLC
Special Warranty Deed
—
Jul 26, 2021
—
Carriage Way LLC
—
Deed
related
$8,000,000 · John Hancock Life Insurance Company USA
Oct 12, 2002
—
Carriage Way LLC
Cole Taylor Bank Trustee
Grant Deed
$7,275,000 · Wachovia Bank NA
—
—
Carriage Way LLC
—
Deed Of Trust
related
$6,700,000 · Security Benefit Life Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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